GistReel
The Nigerian naira maintained relative stability against the US dollar on Wednesday, August 26, 2026, as the gap between the official and parallel markets remained moderate.
The latest exchange-rate data put the dollar at about ₦1,346.34 on the Nigerian Foreign Exchange Market (NFEM).
The figure keeps the naira close to the ₦1,347/$ level recorded in recent official-market trading.
Naira-dollar rates across the markets
The Central Bank of Nigeria (CBN) says the NFEM rate is calculated using the volume-weighted average of transactions carried out in the official market.
Previous confirmed figures showed the naira closing at approximately ₦1,346.90 per dollar.
Meanwhile, the dollar was selling for about ₦1,400 in the parallel market on Wednesday, according to Aboki Forex.
At the street-market rate, $100 would cost about ₦140,000, while $1,000 would exchange for roughly ₦1.4 million.
The difference between the NFEM rate of ₦1,346.34 and the parallel-market rate of ₦1,400 stands at about ₦53.66 per dollar.
Market gap continues to narrow
The latest figures suggest that the naira has continued to show relative resilience in the foreign exchange market.
Reuters reported last week that the currency traded around ₦1,345 per dollar in the official market.
Street-market quotations at the time were around ₦1,410 per dollar, pointing to a narrower spread between both markets.
However, the rates available to individuals may vary depending on where they buy or sell their dollars.
Banks, Bureau de Change operators and other authorised dealers may quote different prices based on prevailing liquidity and demand.
Parallel-market rates can also change several times during the day as dollar supply and demand fluctuate.
For Nigerians planning dollar transactions, the published rates should therefore be treated as market indications rather than guaranteed transaction prices.